Dietary supplements consist of vitamins, minerals, herbal and natural ingredients that are consumed in pill, capsule, powder or liquid form to fill the dietary gaps or enhance general well-being. Used for the prevention of chronic disease or to supplement normal diets, Indonesia's growing focus on healthier lifestyles is fueling the demand for dietary supplements.
The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 5.2 billion in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
Rising health awareness is accelerating the growth of Indonesia's dietary supplements market. With growing per capita income and evolving lifestyle patterns, Indonesians are paying more attention to their health and nutritional needs. There is a growing preference for healthy and natural products to supplement nutrition and aid general wellness. This rising health consciousness has increased the demand for high-quality dietary supplements made from natural ingredients. Manufacturers are launching new products fortified with essential vitamins, minerals, herbs and other ingredients to address the health requirements of consumers. The growing availability and marketing of supplements through e-commerce and retail stores has further fueled their consumption in Indonesia.
Segment Analysis
The Indonesia dietary supplements market is dominated by multivitamins sub segment. Multivitamins hold around 30% market share owing to increasing health awareness among Indonesian consumers and rising adoption of supplements for preventive healthcare. Growing aging population also contributes to demand for multivitamins as aged people are more prone to vitamin deficiency. Other major segments include DHA supplements, protein supplements, omega fatty acid supplements etc. The protein supplements segment is witnessing high growth due to rising popularity of protein/amino acids in sports and muscle building nutrition.
Key Takeaways
The Global Indonesia Dietary Supplements Market Size is expected to witness high growth over the forecast period. The country has witnessed significant economic development and changing lifestyle of consumers, which has increased adoption of supplements. Factors such as rising health awareness, growing aging population, and increasing incomes drive the market growth. The global Indonesia Dietary Supplements Market is estimated to be valued at US$ 5.2 billion in 2023 and is expected to exhibit a CAGR of 8.2% over the forecast period 2023-2031.
Regional analysis:
The western region of Indonesia dominates the dietary supplements market currently. However, central region is gaining market share rapidly due to growing middle class population and healthcare infrastructure development in cities like Surabaya and Semarang. Eastern region also presents immense growth opportunities attributed to increasing penetration of international supplement brands and fitness culture. The government is also promoting preventive healthcare approach which aids regional market growth.
Key players:
Key players operating in the Indonesia dietary supplements market are Pharmavite LLC, Salus-Haus Pte Ltd, DSM Nutritional Products, Archer Daniels Midland Company, BASF SE, Bayer AG, NBTY, Inc., Amway.
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